Nike stock surges 10% as fiscal 2021 revenue is expected to rise – MarketWatch
Nike Inc. stock surged 10.2% in Wednesday trading after it became one of the few companies to offer guidance, forecasting full fiscal year revenue that will be up in the high single digits to low double digits.Previously, Nike
was guiding for revenue to be flat-to-up for the year.
Nike reported fiscal first-quarter profit and revenue that blew past analyst expectations for a ho hum quarter.
Nike has made some business decisions, like cutting back on wholesale distribution at retailers …